XAU₮0
630 views
2 Discussing
Hot
Latest
See original
Crypto Opens to Forex: Blockchain Investors Now Easily Access the Gold Market
The launch of XAU₮0 – a new gold token on blockchain $TON issued by Tether – is paving the way for a notable direction: connecting the crypto market with the traditional forex market, which has long been a separate 'playground' from digital assets.
Each #XAU₮0 represents 1 real ounce of gold, stored in Switzerland, with over 7.7 tons of gold as collateral. Instead of investing through ETFs or futures contracts, crypto investors can now access gold – one of the most popular forex assets – directly on the blockchain, trading 24/7 without intermediaries.
Notably, XAU₮0 is built according to the Omnichain Fungible Token (OFT) standard of LayerZero, allowing token transfers between different networks without needing to be wrapped, enhancing flexibility and reducing technical risks.
According to data from #FXCE , the XAUUSD exchange rate is currently at 3.355 USD/ounce, down about 4% from the peak of 3.502 USD set on April 22. This could be a suitable time for crypto investors to leverage the XAU₮0 token to 'catch the bottom' of gold, instead of waiting to open accounts at traditional forex exchanges.
From gold, we can expect other forex assets like USD, EUR, or crude oil to also be 'tokenized', enabling crypto investors to access the traditional financial market more easily and proactively than ever before. #anhbacong
The launch of XAU₮0 – a new gold token on blockchain $TON issued by Tether – is paving the way for a notable direction: connecting the crypto market with the traditional forex market, which has long been a separate 'playground' from digital assets.
Each #XAU₮0 represents 1 real ounce of gold, stored in Switzerland, with over 7.7 tons of gold as collateral. Instead of investing through ETFs or futures contracts, crypto investors can now access gold – one of the most popular forex assets – directly on the blockchain, trading 24/7 without intermediaries.
Notably, XAU₮0 is built according to the Omnichain Fungible Token (OFT) standard of LayerZero, allowing token transfers between different networks without needing to be wrapped, enhancing flexibility and reducing technical risks.
According to data from #FXCE , the XAUUSD exchange rate is currently at 3.355 USD/ounce, down about 4% from the peak of 3.502 USD set on April 22. This could be a suitable time for crypto investors to leverage the XAU₮0 token to 'catch the bottom' of gold, instead of waiting to open accounts at traditional forex exchanges.
From gold, we can expect other forex assets like USD, EUR, or crude oil to also be 'tokenized', enabling crypto investors to access the traditional financial market more easily and proactively than ever before. #anhbacong
Login to explore more contents